Goldwater Bank Certificate of Deposit
Arizona savers wanting a top short-to-mid-term rate with a no-penalty liquid option.
Investors seeking strong long-term CD rates — yields fall to 3.00% at 24 months and beyond.
Goldwater Bank's 9-month CD at 4.15% APY sits meaningfully above the current Fed Funds Rate of 3.63% — a real-yield spread of +0.52 percentage points that signals genuine competitiveness, not just a teaser. The 12-, 15-, and 18-month terms all hold at 4.00%, giving savers a solid rate window through the mid-term range. Where the lineup loses its edge is at the 24-month mark and beyond, where all terms collapse to a flat 3.00% APY — that's below the Fed Funds Rate and well behind what top online competitors post for 2- to 5-year terms. The no-penalty 6-Month Liquid CD at 3.90% is a standout feature: it's only 25 basis points below the standard 9-month and requires no minimum deposit, making it a smart parking option for savers who want rate upside without lockup risk. IRA CD availability at identical rates adds tax-advantaged versatility. The $500 minimum for standard CDs is accessible. One gap: early withdrawal penalty amounts are not disclosed on the page — confirm those before committing to a longer term. Net assessment: excellent for 6-to-18-month horizons, uncompetitive beyond two years.
Confirm the rate and term are still available. Review the early-withdrawal penalty in the fee schedule — it can erase months of interest.
Jun 14, 2026
SwitchWize Research Desk · methodology
- FDIC insured up to $250,000
- Monthly fee: Not mentioned on page
- Opening deposit required: $500
| Term | APY |
|---|---|
| 3 months | 3.75% |
| 6 months | 3.75% |
| 1 year | 4.00% |
| 2 years | 3.00% |
| 3 years | 3.00% |
| 5 years | 3.00% |
Use the 'Open an Account' link on goldwaterbank.com or visit one of two Arizona branches (Phoenix or Lake Havasu City). You can also call (480) 281-8200 during weekday business hours. Online application availability for CDs specifically is not confirmed on the page.
Goldwater Bank's 9-month CD at 4.15% APY sits meaningfully above the current Fed Funds Rate of 3.63% — a real-yield spread of +0.52 percentage points that signals genuine competitiveness, not just a teaser. The 12-, 15-, and 18-month terms all hold at 4.00%, giving savers a solid rate window through the mid-term range. Where the lineup loses its edge is at the 24-month mark and beyond, where all terms collapse to a flat 3.00% APY — that's below the Fed Funds Rate and well behind what top online competitors post for 2- to 5-year terms. The no-penalty 6-Month Liquid CD at 3.90% is a standout feature: it's only 25 basis points below the standard 9-month and requires no minimum deposit, making it a smart parking option for savers who want rate upside without lockup risk. IRA CD availability at identical rates adds tax-advantaged versatility. The $500 minimum for standard CDs is accessible. One gap: early withdrawal penalty amounts are not disclosed on the page — confirm those before committing to a longer term. Net assessment: excellent for 6-to-18-month horizons, uncompetitive beyond two years.
What happens if I withdraw from a CD early?
Most CDs charge an early-withdrawal penalty — typically 60 to 150 days of interest depending on the term. Breaking a 12-month CD at month 3 with a 90-day penalty can reduce your effective yield to near zero. Always read the fee schedule before opening.
Is a CD FDIC insured?
Yes. Certificates of deposit at FDIC-member banks are insured up to $250,000 per depositor. The fixed rate and FDIC coverage make CDs one of the safest places to hold cash you can afford to leave untouched for the full term.
What is a CD ladder?
A CD ladder splits your savings across multiple CDs with staggered maturities — for example, 3-month, 6-month, and 12-month terms. As each CD matures, you reinvest at the current rate, giving you the higher rates of longer terms and regular access to a portion of your cash.
Can the CD rate change after I open it?
No. The APY on a standard CD is locked at the opening rate for the full term. This is the main advantage over a high-yield savings account: you know exactly what you will earn, regardless of future Fed rate cuts.
Rates are sourced from Bankrate and verified by SwitchWize. SwitchWize may earn a referral fee when you click through to a partner. Content is for informational purposes only and does not constitute financial advice. Verify current rates directly with the institution before opening an account.